Cars

7% extra cess on SUVs; small cars exempt

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Bringing some relief to firms struggling to file Goods and Services Tax (GST) returns due to glitches on the GST Network, the GST Council on Saturday decided to extend the deadline for filing returns.

The Council also decided to set up a ministerial group to assess and fix the IT challenges.

The Council also decided to bring some relief to consumers by reducing the GST rate on about 30 items of common use including idli and dosa batter, oilcakes, raincoats, rubber bands, roasted peanuts, ‘dhoop agarbattis’ and dried tamarind.

The Council also spared small cars from a cess hike in the range of 2% to 7% that has been imposed on mid-size, luxury and sports utility vehicles (SUVs).

 

“The meeting has taken voluminous decisions on wide-ranging issues brought before by the fitment panel after thoroughly examining the proposals, objections and concerns put forward by States with the help of experts,” Finance Minister Arun Jaitley, who chairs the Council, said after the eight- hour meeting.

The GST Council has also decided to constitute a Group of Ministers to monitor and resolve the technology challenges faced during GST implementation.

The Council also extended the deadlines for filing returns for the first month of GST (July) up to October 31. The deadline would now be October 10 for GSTR-1, October 31 for GSTR-2, November 10 for GSTR-3 and October 18 for GSTR-4, the Finance Ministry said.

A panel of officers under Revenue Secretary Hasmukh Adhia has also been tasked to examine GST-related issues faced by exporters. The Federation of Indian Exporters said there are several ‘pressing issues’ that need attention, including quicker refunds of taxes paid on exports and exempting export-oriented units from integrated GST levy.

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